close_menu
Latest News

KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market

Real Estate

About time: Fannie Mae begins taxpayer payback

Fannie Mae announced that it will pay $59.4 billion in dividends to the U.S. Treasury, helping to reduce the net cost of its taxpayer bailout to $21.1 billion, Reuters reported.

A strengthening housing market has helped the mortgage giant to record a record profit in the first quarter this year.

This also marks the fifth-consecutive quarter for profits for the government-sponsored enterprise (GSE). Critics have written that a significant payback program should have already been underway.

Since government regulators took over Fannie Mae in September 2008, it has received $116.1 billion in taxpayer funds.

Freddie Mac, which was also placed into FHFA conservatorship in 2008, has received about $71 billion in taxpayer aid since that time. By the end of June, it will have paid $36.6 billion of that back to the Treasury.

Hear Real Estate Today on KIRO Radio

  • Hear Real Estate Today on KIRO RadioJoin Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Real Estate Photo Galleries

Comments

comments powered by Disqus
close_menu
Latest News